First Insurance Co Ltd
The First Insurance Co., Ltd. engages in the provision of a range of insurance products and related services in Taiwan. It offers insurance products, including residential and commercial fire; inland and cargo transportation; hull; fishing boat insurance; aviation; general personal car and general commercial auto property damage insurance; liability insurance products comprising general commercia… Read more
First Insurance Co Ltd (2852) - Net Assets
Latest net assets as of September 2025: NT$8.87 Billion TWD
Based on the latest financial reports, First Insurance Co Ltd (2852) has net assets worth NT$8.87 Billion TWD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$18.11 Billion) and total liabilities (NT$9.24 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$8.87 Billion |
| % of Total Assets | 48.99% |
| Annual Growth Rate | 6.4% |
| 5-Year Change | 28.61% |
| 10-Year Change | 77.28% |
| Growth Volatility | 12.63 |
First Insurance Co Ltd - Net Assets Trend (2000–2024)
This chart illustrates how First Insurance Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for First Insurance Co Ltd (2000–2024)
The table below shows the annual net assets of First Insurance Co Ltd from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$8.70 Billion | +7.00% |
| 2023-12-31 | NT$8.13 Billion | +7.47% |
| 2022-12-31 | NT$7.56 Billion | +4.00% |
| 2021-12-31 | NT$7.27 Billion | +7.53% |
| 2020-12-31 | NT$6.76 Billion | -0.72% |
| 2019-12-31 | NT$6.81 Billion | +14.11% |
| 2018-12-31 | NT$5.97 Billion | +4.75% |
| 2017-12-31 | NT$5.70 Billion | +6.04% |
| 2016-12-31 | NT$5.37 Billion | +9.55% |
| 2015-12-31 | NT$4.91 Billion | +0.00% |
| 2014-12-31 | NT$4.91 Billion | +0.00% |
| 2013-12-31 | NT$4.91 Billion | +3.05% |
| 2012-12-31 | NT$4.76 Billion | +19.60% |
| 2011-12-31 | NT$3.98 Billion | -7.37% |
| 2010-12-31 | NT$4.30 Billion | +12.16% |
| 2009-12-31 | NT$3.83 Billion | +38.76% |
| 2008-12-31 | NT$2.76 Billion | -22.99% |
| 2007-12-31 | NT$3.59 Billion | +0.69% |
| 2006-12-31 | NT$3.56 Billion | +20.83% |
| 2005-12-31 | NT$2.95 Billion | -3.14% |
| 2004-12-31 | NT$3.04 Billion | +33.40% |
| 2002-12-31 | NT$2.28 Billion | +14.89% |
| 2001-12-31 | NT$1.99 Billion | +1.10% |
| 2000-12-31 | NT$1.96 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to First Insurance Co Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 288.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$839.88 Million | 9.66% |
| Common Stock | NT$3.01 Billion | 34.63% |
| Other Comprehensive Income | NT$4.84 Billion | 55.71% |
| Total Equity | NT$8.70 Billion | 100.00% |
First Insurance Co Ltd Competitors by Market Cap
The table below lists competitors of First Insurance Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
OraSure Technologies Inc
NASDAQ:OSUR
|
$188.12 Million |
|
AJAXENGG
NSE:AJAXENGG
|
$188.12 Million |
|
Utechzone Co Ltd
TWO:3455
|
$188.13 Million |
|
Guangzhou Tongda Auto Electric Co Ltd
SHG:603390
|
$188.18 Million |
|
Latent View Analytics Limited
NSE:LATENTVIEW
|
$187.98 Million |
|
Sichuan Newsnet Media (Group) Co.Ltd.
SHE:300987
|
$187.95 Million |
|
C + F FINL CORP. DL1
F:CFF
|
$187.86 Million |
|
Wuhan Citms Technology Co Ltd
SHG:688038
|
$187.85 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Insurance Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 8,127,631,000 to 8,696,386,000, a change of 568,755,000 (7.0%).
- Net income of 903,297,000 contributed positively to equity growth.
- Dividend payments of 340,315,000 reduced retained earnings.
- Other comprehensive income increased equity by 213,036,000.
- Other factors decreased equity by 207,263,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$903.30 Million | +10.39% |
| Dividends Paid | NT$340.31 Million | -3.91% |
| Other Comprehensive Income | NT$213.04 Million | +2.45% |
| Other Changes | NT$-207.26 Million | -2.38% |
| Total Change | NT$- | 7.00% |
Book Value vs Market Value Analysis
This analysis compares First Insurance Co Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.91x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.06x to 0.91x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$12.72 | NT$26.20 | x |
| 2010-12-31 | NT$14.19 | NT$26.20 | x |
| 2011-12-31 | NT$13.22 | NT$26.20 | x |
| 2012-12-31 | NT$15.71 | NT$26.20 | x |
| 2013-12-31 | NT$16.25 | NT$26.20 | x |
| 2014-12-31 | NT$16.29 | NT$26.20 | x |
| 2015-12-31 | NT$16.28 | NT$26.20 | x |
| 2016-12-31 | NT$17.83 | NT$26.20 | x |
| 2017-12-31 | NT$18.90 | NT$26.20 | x |
| 2018-12-31 | NT$19.80 | NT$26.20 | x |
| 2019-12-31 | NT$22.59 | NT$26.20 | x |
| 2020-12-31 | NT$22.44 | NT$26.20 | x |
| 2021-12-31 | NT$24.12 | NT$26.20 | x |
| 2022-12-31 | NT$25.08 | NT$26.20 | x |
| 2023-12-31 | NT$26.95 | NT$26.20 | x |
| 2024-12-31 | NT$28.85 | NT$26.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Insurance Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.39%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.58%
- • Asset Turnover: 0.40x
- • Equity Multiplier: 2.27x
- Recent ROE (10.39%) is above the historical average (8.69%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 6.83% | 5.24% | 0.35x | 3.70x | NT$-62.33 Million |
| 2001 | 4.57% | 1.81% | 0.61x | 4.15x | NT$-107.72 Million |
| 2002 | 7.45% | 3.32% | 0.64x | 3.50x | NT$-58.14 Million |
| 2004 | 16.50% | 8.07% | 0.71x | 2.88x | NT$197.68 Million |
| 2005 | 1.79% | 0.78% | 0.77x | 3.00x | NT$-241.91 Million |
| 2006 | 17.80% | 8.62% | 0.75x | 2.75x | NT$277.78 Million |
| 2007 | 9.20% | 4.87% | 0.66x | 2.85x | NT$-28.55 Million |
| 2008 | 1.63% | 0.80% | 0.50x | 4.11x | NT$-230.95 Million |
| 2009 | 4.91% | 2.82% | 0.53x | 3.31x | NT$-194.94 Million |
| 2010 | 17.91% | 16.16% | 0.36x | 3.08x | NT$339.92 Million |
| 2011 | 10.60% | 9.84% | 0.33x | 3.25x | NT$23.81 Million |
| 2012 | 13.38% | 13.46% | 0.36x | 2.80x | NT$160.86 Million |
| 2013 | 14.39% | 14.25% | 0.36x | 2.78x | NT$215.48 Million |
| 2014 | 8.48% | 8.46% | 0.36x | 2.77x | NT$-74.44 Million |
| 2015 | 3.98% | 3.85% | 0.36x | 2.87x | NT$-295.53 Million |
| 2016 | 8.93% | 8.56% | 0.37x | 2.79x | NT$-57.63 Million |
| 2017 | 8.08% | 7.84% | 0.39x | 2.63x | NT$-109.54 Million |
| 2018 | 8.23% | 8.02% | 0.39x | 2.63x | NT$-105.58 Million |
| 2019 | 8.53% | 9.61% | 0.38x | 2.33x | NT$-100.16 Million |
| 2020 | 2.26% | 2.61% | 0.36x | 2.37x | NT$-523.33 Million |
| 2021 | 7.61% | 8.47% | 0.39x | 2.32x | NT$-174.00 Million |
| 2022 | 7.39% | 8.06% | 0.39x | 2.33x | NT$-197.41 Million |
| 2023 | 7.83% | 8.60% | 0.38x | 2.37x | NT$-176.52 Million |
| 2024 | 10.39% | 11.58% | 0.40x | 2.27x | NT$33.66 Million |
Industry Comparison
This section compares First Insurance Co Ltd's net assets metrics with peer companies in the Insurance - Property & Casualty industry.
Industry Context
- Industry: Insurance - Property & Casualty
- Average net assets among peers: $7,185,600,500
- Average return on equity (ROE) among peers: 14.74%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Insurance Co Ltd (2852) | NT$8.87 Billion | 6.83% | 1.04x | $188.03 Million |
| Taiwan Fire & Marine Insurance Co Ltd (2832) | $7.85 Billion | 6.24% | 1.25x | $258.49 Million |
| Shinkong Insurance Co Ltd (2850) | $6.52 Billion | 23.23% | 2.58x | $655.45 Million |